Accenture results leave IT investors between hope and despair
SummaryWeak discretionary spending and slower decision-making by clients amid macro uncertainties continue to weigh on demand for IT services.
Accenture’s revenue for the quarter ending August (Q4FY23), deal bookings and FY24 revenue growth guidance point to a long recovery path for the Indian information technology (IT) sector. Accenture follows a September-August financial year. The global IT company’s performance is seen as a precursor to the earnings outlook of Indian IT companies. Accenture’s latest results show revenue visibility is still bleak.